Question 1102330
f = p * (1+r)^n


f is the future value
p is the present value
r is the interest rate per time period
n is the number of time periods


in your problem.


f = what you want to find
p = 25000
r = .08/12
n = 2*12


formula becomes f = 25000 * (1+.08/12)^(2*12).


solve for f to get f = 29322.19829


subtract 14000 from that and you are left with 15322.19829